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4. On May 24, a note is signed for a debt of $4,100 and the face value of the note is known to be $4,246.37.

4. On May 24, a note is signed for a debt of $4,100 and the face value of the note is known to be $4,246.37. If the interest rate charged was 23%, on what date was it due? 5. What is the quarterly rate equivalent to a 14% semi-annual rate? 6. If you have an annual rate of 30%, then, will the equivalent semi-annual rate be less or greater than 15%? Explain.

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